Estate Planning

When is the Right Time to Update Life Insurance Beneficiaries?

A very important part of your estate plan should be your life insurance. It’s important that you understand how your beneficiary designations on your life insurance policies will work with your overall estate planning. Just like other important legal documents you should regularly review your life insurance to make sure that the beneficiary you have chosen is current and is someone you want.

What You Should Know about Your Parents’ Estate Planning in Alpine

Talking to older or retired parents about their estate plan isn’t necessarily something we look forward to, but elder lawyers in Alpine have seen first-hand why it’s so important.  Of course you don’t want to think about your parents’ death or to come across as insensitive or greedy.  On the other hand, though, ignoring these important conversations tends to make things significantly more difficult and expensive down the road.

Is there a Plan in Place?

There are several things that you should know about your parents’ estate plan, the first of which is whether or not they actually have one.  If not, you’ll want to start looking into elder lawyers in Alpine to get the process started.  Not only will an elder lawyer help with wills and trusts, but they can also help fund retirement, assist with senior living options, and much more.

Is Estate Planning Important for You? | Lehi Trust Lawyer

While trust lawyers in Lehi have seen first-hand how important the right legal documents are, we also understand that there is no one-size-fits-all approach when it comes to estate planning.   For example, the needs of one family will likely be completely different from those of another.  Likewise, a certain single professional may benefit greatly from working with an estate planning lawyer, while another would have very little need at this point in his or her career.
 
So, how do you know what you need?  The real answer is probably that you should talk to a trust lawyer in Lehi, but that sounds a little self-serving.  Instead, here are a few circumstances to get you started, and if you find that they get you thinking about what might be right for you, then it’s probably time to hire an attorney.

Alpine Will Lawyer Says “Exercise Caution When Purchasing Annuities”

Will lawyers in Alpine have a variety of tools at their disposal to help their clients make the best possible choices when it comes to creating long-term plans for their wealth.  Wills, trusts, prenuptial agreements, insurance policies…there are so many ways to grow and protect what you’ve worked so hard for.  In many, many cases, and annuity is a great strategy for having an ongoing income during the retirement years.

Utah County Estate Planning Lawyer Advice for Second (or Third) Marriages

Estate planning lawyers in Utah County work with clients at all different stages of life.  For example, many couples realize the importance of meeting with an estate planning lawyer before getting married.  While things are rarely straight forward (every situation is unique, after all), they can get pretty complicated in cases where one or both of the parties involved has been married before.

Who Owns What

When you enter a second or subsequent marriage, you’re likely bringing quite a bit of “stuff” with you.  You probably have various accounts that are all in different names: his, hers, and theirs.  The same is true of assets.  And then there are kids to consider.  Some accounts and assets might have the children’s names on them, too.

Who Would Care For Your Pet If Something Happens To You? Lehi Estate Lawyer Answers

So many Americans are pet owners, and estate lawyers in Lehi have various ways of helping their clients to care for these pets.  To be honest, it’s pretty common to overlook the potential need to plan for a pet after your death, but it’s something that more and more people are recognizing as an integral part of their own estate planning process.

Most of the time, a person just assumes that their children or a friend will simply take the pet into their home, but that may be an overly-optimistic plan.  Instead, it might make better sense for pet owners to spend a little time with the estate planning lawyer to put plans in place for the animal’s long-term care and happiness.

The methods for setting up this kind of plan can vary.  You and your attorney may feel that it’s reasonable to simply outline your wishes in the will.  On the other hand, you may prefer to create an actual “pet trust” that not only lays out your wishes but also funds them.

Estate Planning Lawyer In Lehi Talks Conservatorships

Every once in a while, we see situations where some celebrity seems to be going off the deep end, and someone—usually a parent—is named as their “conservator.”  But, what exactly does this mean, and are out-of-control starlets the only ones who need conservatorships?  As a Lehi lawyer, it is sometimes necessary to get involved with creating conservatorships for a variety of reasons.

What Is a Conservatorship?

Most commonly, conservatorships are used to give a person authority to make financial or health care decisions for another who is unable to make sound decisions on their own.  We’ve seen this play out publicly and spectacularly in situations such that of Britney Spears a few years ago.

Prenuptial Agreements as a Part of Newlywed Planning in Provo

There are few times in life that are as exciting and full of promise as the period of wedding and newlywed planning.  People know that their wedding day will be one of the most remembered of their lives.  While there is certainly stress involved in making so many decisions, there is also an underlying sense of fun.

Unfortunately, there are some aspects of newlywed planning that are not quite as enjoyable as others.  Still, paying attention to things like estate planning and prenuptial agreements help to set up the marriage in a healthy way.  Some people will argue against that notion, but marriage lawyers in Provo have seen the benefits of this kind of preparation.

Understanding the Terminology Your Lehi Estate Planning Lawyer Uses

When you walk into a Lehi estate planning lawyer’s office, you are going to hear some terms that are either completely new to you or that sound like something out of an old movie.  It’s a good idea to have some understanding of these terms ahead of time so you don’t spend time doing anything other than what you hired the attorney to do.

Talking to Your Parents about Meeting with an Estate Planning Lawyer in Orem

Just as everywhere else in the country, folks in Orem often put off their estate planning for many reasons.  Whether it’s facing your own mortality, or that of your parents, the prospect of needing a will or trust isn’t something that many of us want to think about.  The reality, though, is that when we continue to put off the estate planning process, things only tend to get more complicated.

Considering a parent’s need for estate planning may not be a pleasant thought, but it is so very important in ensuring that they are taken care of.  After all, it’s not just about what they will leave behind after death, it’s also about how those Golden Years can be spent.  Estate planning lawyers in Orem certainly handle wills and trusts, but they also help with planning for retirement, moves into retirement communities, and more.

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